I agree w/DnJ, you don't want to give this type of news on Christmas Day. If you actually need to do this, do it before Christmas so that the news has time to sink in and allow them to adjust to the "new" norm.

DnJ's suggestions are spot on and changing the word "want" to "need" is much better.

Sit quietly, the answers will reveal themselves when you least expect them to.
The past is gone, the present is a gift and you need to focus on today, allow the future to reveal itself when it is ready.